Starting with our commercial organization. We recently expanded our ARISTADA commercial field and hospital organization by approximately 60 sales reps.

starting with our commercial organization we recently expanded our aristotle commercial field and hospital organization by approximately 60 sales reps


or achievements expressed or implied in these forward-looking statements. Although we believe that the expectations reflected in these forward-looking statements and forecasts are reasonable,

or achievements expressed or implied in these forward-looking statements although we believe that the expectations reflected in these forward-looking statements and forecasts are reasonable


We continue to increase our market share by providing high levels of customer service as well as investing in our people and our businesses.

we continue to increase our market share by providing high levels of customer service as well as investing in our people and our businesses


and making sure that, from a pricing standpoint, we're staying disciplined with the projects that we're taking on. And so that said, we have seen significant improvement

and making sure that from a pricing standpoint we're staying disciplined with the projects that we're taking on and so that said we have seen significant improvement


we have the most scale and we are the most capable. In short, ASE will be part of every solution. So

we have the most scale and we are the most capable in short ase will be part of every solution so


Overall, we delivered an exceptional fourth quarter with strong trailer shipments, builds and revenue which translated into increased profitability

overall we delivered an exceptional fourth quarter with strong trailer shipments builds and revenue which translated into increased profitability


Beyond that anchor investment, remaining CapEx comprises a range of smaller elements that can be flexed and prioritized to business needs.

beyond that anchor investment remaining capex comprises a range of smaller elements that can be flexed and prioritized to suit business needs


After Liza-4, the rig will drill a delineation well at Payara that will also test a deeper exploration prospect.

after lisa 4 the rig will drill a delineation well at payara that will also test a deeper exploration prospect


The market continue to be very active. We have a strong pipeline, and we have what it take to continue the momentum in the region.

the market continued to be very active we have a strong pipeline and we have what it takes to continue the momentum in the region


and we formed a strategic partnership with Silicon Valley-based Plug and Play, the world's largest technology innovation accelerator platform.

and we formed a strategic partnership with silicon valley-based plug and play the world's largest technology innovation accelerator platform


as well. When you accelerate activity, you're going to have to shut in your immediately offset wells. So we're going to see a little bit of an impact for that in the second half of the year.

as well when you accelerate activity you're going to have to shut in your immediately offset wells so we're going to see a little bit of an impact to that in the second half of the year


and the progress we're making in our newer technology areas of data analytics and IoT such as our messaging monetization service and Secure Global Access,

and the progress we're making in our newer technology areas of data analytics and iot such as our messaging monetization service and secure global access


The Syniverse and Mavenir partnerships bring to market a simple global connected platform that operators can use to enable messaging for enterprise customers.

the syniverse and mavenir partnerships bring to market a simple global connected platform that operators can use to enable messaging for enterprise customers


We spent the last years developing a portfolio of disruptive products and technologies to service these targeted areas of secular growth.

we spent the last few years developing a portfolio of disruptive products and technologies to service these targeted areas of secular growth


again continue to evaluate how we allocate capital in the current environment, particularly given our recent performance and our projected outlook.

again continue to evaluate how we allocate capital in the current environment particularly given our recent performance and our projected outlook


Neptune carved out from our French energy conglomerate producing oil and gas assets, dispersed throughout the North Sea, North Africa and Southeast Asia,

neptune carved out from a french energy conglomerate producing oil and gas assets dispersed throughout the north sea north africa and southeast asia


Under a more traditional definition of bookings, which would include any up-sell or expansion commitments regardless of whether they were incremental to run rate revenue,

under a more traditional definition of bookings which would include any upsell or expansion commitments regardless of whether they were incremental to run rate revenue


We still are conducting a search and expect to complete shortly a search for a CFO and a Chief Accounting Officer.

we still are conducting a search and expect to complete shortly a search for a cfo and a chief accounting officer


Please note that this call contains forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from management's current expectations.

please note that this call contains forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from management's current expectations


Although revenue fell for the third quarter, we have been able to maintain a high level of revenues, the second highest to date.

although revenue fell for the third quarter we have been able to maintain a high level of revenues the second highest to date


It's a good question that I don't have the specific answer for, but I know that we have plans to drill a disposal well.

it's a good question that i don't have the specific answer for but i know that we have plans to drill a disposal well


and we review those every month in ALCO and then periodically look at how we can bring those more in line with our standard pricing over time.

and we review those every month in alco and then periodically look at how we can bring those more into line with our standard pricing over time


In addition, the prospect of adding additional spending on our domestic infrastructure bodes very well for Reliance.

in addition the prospect of adding additional spending on our domestic infrastructure bodes very well for reliance


In fact, a number of our luxury and upper-upscale pipeline rooms exceed that of our next 3 largest global competitors combined.

in fact the number of our luxury and upper upscale pipeline rooms exceed that of our next 3 largest global competitors combined


As AOI was flat in the quarter because of the natural disaster impact we just mentioned, the increase was driven by lower interest and taxes.

as aoi was flat in the quarter because of the natural disaster impact we just mentioned the increase was driven by lower interest and taxes


Due to the unexpected Medicare change and the fact that we did not have existing contract positions with our third-party pay model customers,

due to the unexpected medicare change and the fact that we did not have existing contract positions with our third-party payer model customers


That means that we are going out of commodity products, standardized profiles with low margins into more sophisticated products where we

that means that we are going out of commodity products standardized profiles with low margins into more sophisticated products where we


and getting full. And we're the only guys that are skinny when they bring out the hot food. I mean, it may be that we've got to be that patient, but

and getting full and we're the only guys that are skinny when they bring out the hot food i mean it may be that we've got to be that patient but


And then come the first quarter of next year, after more clients have implemented, the measurement capability will begin syndicated reporting sometime

and then come the first quarter of next year after more clients have implemented the measurement capability we'll begin syndicated reporting sometime


When we talk about Total Audience Measurement, the most common question we get is, how and when does total audience get adopted as the new currency.

when we talk about total audience measurement the most common question we get is how and when does total audience get adopted as the new currency


was because the Marketplace performed very well in Texas in the quarter. We're not going to see continued

was because the marketplace performed very well in texas in the quarter and we're not going to see continued


to become one of the main innovators, accelerators and facilitators of this development in Germany and beyond.

to become one of the main innovators accelerators and facilitators of this development in germany and beyond


The most positive part of the past few weeks was holding our Investor Days in Toronto and New York, where we issued our new 5-year capital plan

the most positive part of the past few weeks was holding our investor days in toronto and new york where we issued our new 5-year capital plan


and gentlemen, the expectations for the growth of the world economy remained generally positive since we last spoke in mid-August.

ladies and gentlemen the expectations for the growth of the world economy remained generally positive since we last spoke in mid-august


While collections on our insurance-related receivables drove a portion of this, we continued to see good progress on the working capital front.

while collections on our insurance-related receivables drove a portion of this we continue to see good progress on the working capital front


All right. The next question is, how are the certification programs moving forward, and what has been the effect of the NEBS certification?

all right the next question is how are the certification programs moving forward and what has been the effect of the neb certification


for the cause. I think that is a dangerous method. To address your questions,

for the cost i think that is a dangerous method to address your questions


We can, for instance, buy a finished building that we then integrate into our perimeter. So we have a very clear vision of the physical

we can for instance buy a finished building that we then integrate into our perimeter so we have a very clear vision of the physical


very warm welcome here in the Experience Center in Amsterdam for the presentation of our first half year results, and also a very special

very warm welcome here in the experience center in amsterdam for the presentation of our first half year results also very special


and can now reasonably strive to use our platform to enhance our investment and operating returns.


Going forward, we expect cost of service to increase at a modest pace in relation to revenue growth and to continue to fall as a percentage of revenue.

going forward we expect cost of service to increase at a modest pace in relation to revenue growth and to continue to fall as a percentage of revenue


This resulted in weaker trends in our Distribution segment, partially offset by strong margin performance in our Aerospace business.

this resulted in weaker trends in our distribution segment partially offset by strong margin performance in our aerospace business


Now our key operating priorities for Payments this year are focused on solutions that provide for an enhanced experience for gaming patrons,

now our key operating priorities for payments this year are focused on solutions that provide for an enhanced experience for gaming patrons


experiences. So, look, we're working through them. We feel confident in the businesses and the brands that serve these markets are highly important to the markets.

experiences so look we're working through them we feel confident in the businesses and the brands that serve these markets are highly important to the markets


and you also are increasingly big in C-stores, both of which almost everything trades at a higher multiple than you guys seem to trade on an EBITDA basis.

and you also are increasingly big in c-stores both of which almost everything trades at a higher multiple than you guys seem to trade on the ebitda basis


Thank you, appreciate you joining us this morning, and we look forward to sharing with you the results of our operations in the first quarter in April. So thanks very much.

thank you appreciate you joining us this morning and we look forward to sharing with you the results of our operations in the first quarter in april so thanks very much


by category type, but I can assure you at least that we had growth, of course, in the absolute number the quantum of number of system placements as well as growth in both categories

by category type but i can assure you at least that we had growth of course in the absolute number the quantum of number of system placements as well as growth in both categories


Finally, while we've been very effective adjusting to the current environment, we realize we must continue to improve our operating structure.

finally while we've been very effective adjusting to the current environment we realize we must continue to improve our operating structure


is very high. It's stronger acquisition currency. How do you think about that now? How are you sitting in terms of potentially looking for

is very high it's stronger acquisition currency how do you think about that now how are you sitting in terms of potentially looking for


In addition to a lot of prepared comments that we have, what's most exciting is that you're going to have the opportunity to interact with almost 20 different executives and distributors

in addition to a lot of prepared comments that we have what's most exciting is that you're going to have the opportunity to interact with almost 20 different executives and distributors


This is another indicator of our customer's desire for our products, and clearly, will help sustain our revenue growth in the next few quarters.

this is another indicator of our customers' desire for our products and clearly will help sustain our revenue growth in the next few quarters


While our margins are still impacted by the macro environment around increased transportation labor costs, we have taken actions to reduce spend in this business.

while our margins are still impacted by the macro environment around increased transportation labor costs we have taken actions to reduce spend in this business


I'll then turn the call over to Nic, who will discuss our financial performance in additional detail. Even though it's been just a little over 1.5 months since we last reported,

i'll then turn the call over to nick who will discuss our financial performance in additional detail even though it's been just a little over a month and a half since we last reported


and present our GAAP financials in a matter that closely reflects our actual operations and cash flow. Chris will provide more details on this.

and present our gaap financials in a manner that closely reflects our actual operations and cash flow chris will provide more details on this


Through focus, positive and productive change and aggressive investment, we feel like we've gotten to a point where we have a very solid platform to build on going forward.

through focus positive and productive change and aggressive investment we feel like we've gotten to a point where we have a very solid platform to build on going forward


Production for these properties is approximately 15 million cubic feet equivalent per day and will include all developed and undeveloped acreage.

production for these properties is approximately 15 million cubic feet equivalent per day and will include all developed and undeveloped acreage


to ensure that we're going to be able to deliver the results on a stable basis. We can see that this year, how we're going to be able

to ensure that we're going to be able to deliver the results on a stable basis we can see that this year how we're going to be able


The acceleration of innovation and digital transformation, I am totally convinced that innovation is absolutely key for all development.

the acceleration of innovation and digital transformation i am totally convinced that innovation is absolutely key for our development


to having the approximately 20 Conjur employees, the majority of who are developers or in technical roles, join the team this week.

to having the approximately 20 conjure employees the majority of who are developers are in technical roles join the team this week


and was unfavorably impacted by weather-related claims in personal lines due to the heavy rainfall in certain parts of Florida during the quarter.

and was unfavorably impacted by weather-related claims in personal lines due to the heavy rainfalls in certain parts of florida during the quarter


We will remain aggressive in our rate plan and respond quickly to any changes in loss cost trends to ensure we are taking enough rate to improve profitability.

we will remain aggressive in our rate plan and respond quickly to any changes in loss cost trends to ensure we are taking enough rate to improve profitability


and we have discussed other potential asset sales in our filings, we're also working hard to improve our operating profitability and cash flow

and we have discussed other potential asset sales in our filings we are also working hard to improve our operating profitability and cash flow


Yes. And when we look at the cost associated with either paying a premium to buy dealerships or securing land and building dealerships,

yes and when we look at the cost associated with either paying a premium to buy dealerships or securing land and building dealerships


We had to come up with an affordable and efficient way to widen our funnel and widen the breadth of our offering and differentiate ourselves.

we had to come up with a affordable and efficient way to widen our funnel and widen the breadth of our offering and differentiate ourselves


Just because we found one way to do it doesn't mean we're going to stop innovating when it comes to our completion design and when it comes to improving our results.

just because we found one way to do it doesn't mean we're going to stop innovating when it comes to our completion design and when it comes to improving our results


At the heart of our strategy is product superiority, products which outperform key competition or bring new distinctive consumer benefits.

at the heart of our strategy is product superiority products which outperform key competition or bring new distinctive consumer benefits


The final settlement agreement will be subject to approval by the PUCT. We currently anticipate that the commission will consider the proposed settlement in the second quarter.

the final settlement agreement will be subject to approval by the pu ct we currently anticipate that the commission will consider the proposed settlement in the second quarter


The program is expected to be executed over the next 2 years, but is not specific as to when or how many shares will be purchased.

the program is expected to be executed over the next 2 years but is not specific as to when or how many shares will be purchased


We are working to meet the conditions of this letter, which would allow us to pursue this opportunity. We are pleased with Sun Capital's continued support of Vince.

we are working to meet the conditions of this letter which would allow us to pursue this opportunity we are pleased with sun capital's continued support of vince


strength in the second half of the year do you expect to be fueled by mobile handsets and how much do you expect to be fueled by

strengths in the second half of the year do you expect to be fueled by mobile handsets and how much do you expect to be fueled by


Multiple serum samples have been collected from all patients for the measurement of ADA levels and the analysis of these samples is currently on going.

multiple serum samples have been collected from all patients for the measurement of ada levels and the analysis of these samples is currently ongoing


and I would expect to deliver further progress against these measures in fiscal '17. In addition to continuing to execute our strategy,

and i would expect to deliver further progress against these measures in fiscal '17 in addition to continuing to execute our strategy


and their majority owner is now a private equity firm. But we looked at it, it was

and their majority owner is now a private equity firm but we looked at it it was


We remain actively engaged with customers on additional TwinShape duct programs that we expect to be decided over the next 6 to 12 months.

we remain actively engaged with customers on additional twin-shaft duct programs that we expect to be decided over the next 6 to 12 months


first half of 2016. Foreign exchange translation had a positive impact on sales for the first half

first half of 2016 foreign exchange translation had a positive impact on sales for the first half


we would have been chasing revenue right off a cliff at the end of the quarter, doing ever diminishing pricing deals to try and make revenue,

we would have been chasing revenue right off a cliff at the end of the quarter doing ever diminishing pricing deals to try and make revenue


and that is mainly, at this point in time, in this quarter, it's relating to cost reductions in the business area.

and that is mainly at this point in time in this quarter it's relating to uh cost reductions in the business area


We'll solidify our platform and position upcoming business opportunities as growth drivers, and then move towards the future.

will solidify our platform and position upcoming business opportunities as growth drivers and then move towards the future


companies combine, and then they have separate product lines. I think customers are making decisions based on the merit of each product

companies combine and then they have separate product lines i think customers are making decisions based on the merit of each product


At this time, I would like to inform you that certain commentary made in this conference call may be considered forward-looking statement,

at this time i would like to inform you that certain commentary made in this conference call may be considered forward-looking statements


in our progress, and our management believes our scientific and business development accomplishments to this date support continuing on this journey.

and our progress and our management believes our scientific and business development accomplishments to this date support continuing on this journey


since most of the pricing is -- like our pricing of our end product is reflective of sugar type of pricing and sugar prices are up slightly,


defensive market positions, operate in industries we know well and generate excess free cash flow for debt service and funding growth.

defensive market positions operate in industries we know well and generate excess free cash flow for debt service and funding growth


stay on this day after day after day with each person that's a potential no vote, and there are lots of them. So

stay on this day after day after day with each person that's a potential no vote and there are lots of them so


is by year-end to get a certain number of them, a significant number of them, through this process. And we're optimistic we will do that.

is by year rent to get a certain number of them a significant number of them through this process and we're optimistic we will do that


Given the increased visibility we have for the rest of the fiscal year, we are narrowing our guidance, the details of which George will walk you through in a few moments.

given the increased visibility we have for the rest of the fiscal year we're narrowing our guidance the details of which george will walk you through in a few moments


project is complete, and we are in the permitting process. And it is now -- that is out for public comment,

project is complete and we are in the permitting process and it is now -- that is out for public comment


this program is the foundation of our strategy to make data driven decisions and engage our customers as individuals with personalized offers.

now this program is the foundation of our strategy to make data-driven decisions and engage our customers as individuals with personalized offers


This concludes today's conference call. Today's call will be available for replay in approximately 2 hours' time. To listen to the replay,

this concludes today's conference call today's call will be available for replay in approximately 2 hours' time to listen to the replay


with lower debt levels and balance sheet capacity available for tuck-ins or incremental buybacks. I will now turn the call back over to Randy for some closing comments

with lower debt levels and balance sheet capacity available for tuck-ins or incremental buybacks i will now turn the call back over to randy for some closing comments


While the results of ERICO are captured as acquisition contribution, the business performed in line with our expectations at the completion of the 1-year deal anniversary.

while the results of erico are captured as acquisition contribution the business performed in line with our expectations at the completion of the 1-year deal anniversary


During the first quarter of 2018, Wells Fargo Bank extended our credit line agreement, which had been originally set to mature

during the first quarter of 2018 wells fargo bank extended our credit line agreement which had been originally set to mature


Now for the core capabilities that we have for the silicon germanium, which we see will continue to grow,

now for the core capabilities that we have for the silicon germanium which we see will continue to grow


again by the end of this year. Moving to current inventory management. We are executing a well-orchestrated

again by the end of this year moving to current inventory management we are executing a well-orchestrated


guys like me don't spend on optimism. I think you actually have to see some things happening which will give you maybe that increased confidence.

guys like me don't spend on optimism and i think you actually have to see some things happening which will give you maybe that increased confidence


value creation for the customers. So while yes, we're going to see some pressure. I think, you're going to see something a little bit better -- little bit less

valued creation for the customers so while yes we're going to see some pressure i think you're going to see something a little bit better a little bit less


Obviously, a somewhat weaker demand environment for van trailers will put some pressure on revenue margins and profit but not at what history might imply.

obviously a somewhat weaker demand environment for rain trailers will put some pressure on revenue margins and profit but not at what history might imply


trying to be aggressive in this space. There are a lot of ideas being put forward. Obviously, there is a voracious need for more

trying to be aggressive in this space there are a lot of ideas being put forward obviously there's a voracious need for more


In addition, all of our teams proactively managed expenses. Now I would like to talk through each of our segments.

in addition all of our teams proactively managed expenses now i would like to talk through each of our segments


we believe our work in this area will provide the necessary evidence to discuss these outcomes with healthcare providers, payers and regulators.

we believe our work in this area will provide the necessary evidence to discuss these outcomes with health care providers payers and regulators


I want to thank Paul Ito for helping me in this transition. Paul has really left me in a strong position and I appreciate his support. So now I'll turn the call over to Paul.

i want to thank paul you know for helping me in this transition paul has really left me in a strong position and i appreciate the support so now i'll turn the call over to paul


One final note on setting our expected rates of collection. Since we do not have a long history of collections under contracted rates for our multiple tests,

one final note on setting our expected rates of collection since we do not have a long history of collections under contracted rates for our multiple tests


Beginning with physical video games, we are pleased with our market-leading share of Switch product and related software and accessory attach.

beginning with physical video games we are pleased with our market-leading share of switch product and related software and accessory attach


caused us to rethink the timing of acquisitions and realize that our pace of growth may be impeded.


the short version is they put the business out to bid and ultimately at a price that we weren't willing to move forward with the business on,


kind of what we moved in March is kind of how we think we're going to be moving going forward. Not what we did sort of on the June hike, where we caught up a little bit

kind of what we moved in march is kind of how we think we're going to be moving going forward not what we did sort of on the june hike where we caught up a little bit


So if you look -- you recall back in February when we gave our Capital Markets Day guidance for our swabbing program, we were initially expecting to

so if you look you recall back in february when we gave our capital markets day guidance for our swabbing program we were initially expecting to


which is an improvement over the past few years. Our operational strategic imperatives are designed to give us profit leverage on sales growth,

which is an improvement over the past few years our operational strategic imperatives are designed to give us profit leverage on sales growth


And then we continue with the things we can control and we have good traction, so we go into the second half of year fairly optimistic.

and then we continue with the things we can control and we have good traction so we go into the second half of year fairly optimistic


Okay. Your press release could do a better job of breaking out the segment. It's paying a lot of attention to non-GAAP accounting versus GAAP, but

okay your press release could do a better job of breaking out the segments it's paying a lot of attention to non-gaap accounting versus gaap but


We would expect these TSAs to wind down in 2018 and are committed to taking actions to reduce the resulting stranded costs.

we would expect these tsas to wind down in 2018 and are committed to taking actions to reduce the resulting stranded costs


So good morning and welcome to this presentation of

so good morning and welcome to this presentation


Thank you. That will conclude our call for today. Thank you for listening and for your interest in American Public Education. Have a great evening.

thank you that will conclude our call for today thank you for listening and for your interest in american public education have a great evening


As Dean indicated, we are committed to returning cash to shareholders and have sufficient capacity to continue our share buyback program.

as dean indicated we are committed to returning cash to shareholders and have sufficient capacity to continue our share buyback program


the engagement with Quest at this point in the life cycle of the product because we've already reached near universal coverage for the Afirma test across the managed care market.

the engagement with quest at this point in the life cycle of the product because we've already reached near universal coverage for the afirma test across the managed care market


to calculate tech salaries based on a tailored combination of attributes to help employers set budgets, recruit for candidates and offer pay aligned with experience.

to calculate tech salaries based on a tailored combination of attributes to help employers set budgets recruit for candidates and offer pay aligned with experience


We must stabilize high temperature products and improve performance of low temperature products,

we must stabilize high temperature products and improve performance of low temperature products


We need to stabilize high temperature products and improve performance of low temperature products.

we need to stabilize high temperature products and improve performance of low temperature products


to mitigate a pretty substantial amount of light erosion with the flexibility to move different commodities on different lines. So we've already got

to mitigate a pretty substantial amount of light erosion with the flexibility to move different commodities on different lines so we've already got


This call and the associated webcast are the property of Liberty Global, and any redistribution, retransmission or rebroadcast of this call or webcast in any form

this call and the associated webcast are the property of liberty global and any redistribution retransmission or rebroadcast of this call or webcast in any form


this strong performance was particularly evident in our Denmark terminals where we experienced higher utilization rates, storage fees, and activity levels.

this strong performance was particularly evident in our denmark terminals where we experienced higher utilization rates storage fees and activity levels


and we have a really strong position that gives us a lot of room to maneuver and to act on opportunities wherever they might materialize in the future.


We have gotten great feedback on the educational and trainee benefits that they have taken away from their experience.

we have gotten great feedback on the educational and training benefits that they have taken away from their experience


Good morning, and welcome to the Herman Miller Second Quarter Earnings Conference Call.

good morning and welcome to the herman miller second quarter earnings conference call


our dealer partners and investors, tour our retail studios and spend quality time with each of our executive leaders focusing on ways to amplify our progress.

our dealer partners and investors tour our retail studios and spend quality time with each of our executive leaders focusing on ways to amplify our progress


This sustained level of interest leads us to believe the depth of demand should remain attractive as construction costs and rents continue to rise.

this sustained level of interest leads us to believe the depth of demand should remain attractive as construction costs and rents continue to rise


Our consistent performance continues to demonstrate the ongoing success of our initiatives to elevate our off-price model.

our consistent performance continues to demonstrate the ongoing success of our initiatives to elevate our off-price model


the funnel that we have at the top where we've got enough great ideas, it's a matter of how we can execute them and really run the go to market in a way it will deliver for the consumer.

the funnel that we have at the top where we've got enough great ideas it's a matter of how we can execute them and really run the go-to-market in a way that will deliver for the consumer


without deceiving anybody, that dividend that we reinstated is just a little bit more than what we received by the tax cut.

without deceiving anybody that dividend that we reinstated is just a little bit more than what we received by the tax cut


So as you highlighted, Brad, moving into your second -- your first question, there are a number of LNG projects that we are concurrently progressing.

so as you highlighted brad moving into your second -- your first question there are a number of lng projects that we are concurrently progressing


And it's very hard to say when and if and how the courts will rule down the road and then what that impact would be. We were asking

and it's very hard to say when and if and how the courts will rule down the road and then what that impact would be we were asking


good brand in Crisco. Wesson, it is an old brand. They both are old brands. But they're both still good brands, and they do still carry weight.

a good brand and crisco wesson it is an old brand they both are old brands but they're both still good brands and they do still carry weight


But it's not just any distribution they're looking for. They are particularly challenged to get in front of the next generation of consumers and are looking for a mobile-first digital distribution.

but it's not just any distribution they're looking for they are particularly challenged to get in front of the next generation of consumers and are looking for a mobile-first digital distribution


We enter 2016 with what I believe to be the strongest and most competitive product portfolio in Veeco's history.

we entered 2016 with what i believe to be the strongest and most competitive product portfolio in vico's history


This remains a viable business for the brand. However, there needs to be better controls in terms of what product and how much flows through this channel.

this remains a valuable business for the brand however there needs to be better controls in terms of what product and how much flows through this channel


We will try to win as many projects as possible while monitoring the projects -- progress.

we will try to win as many projects as possible while monitoring the project's progress


We are rebuilding our pipeline of opportunities, but don't expect sales and earnings growth to resume until next year for this business.

we are rebuilding our pipeline of opportunities but don't expect sales and earnings growth to resume until next year for this business


in Congress or will be. We have a slide in our long-term projections that show what the impact on us would be but there actually could be

in congress or will be we have a slide in our long-term projections to show what the impact on us would be but there actually could be


Now the other thing I want to mention is the Gas Storage business, which we've said is noncore, we're actually looking at strategic options related to that business now and so we've

now the other thing i want to mention is the gas storage business which we've said is noncore we're actually looking at strategic options related to that business now and so we've


we are running the business the way we have always run the business, taking advantage of our 2 decades in the business and our strong sourcing model.

we are running the business the way we have always run the business taking advantage of our 2 decades in the business and our strong sourcing model


I think earlier this year, when there was a lot of talk about a trillion restructure program very early in the year, we probably had some DOTs and some local governments,

i think earlier this year when there was a lot of talk about trillion-dollar infrastructure program very early in the year we probably had some dots and some local governments


Because most of these investments are directly linked to growth projects and to customer demand or will drive productivity improvements in the short term.

because most of these investments are directly linked to growth projects and to customer demand or will drive productivity improvements in the short term


So I noticed consensus models top line growing for Bausch going forward over the next several years, including next year. Is that how you understand the business to be,

so i noticed consensus models top line growing for bausch going forward over the next several years including next year is that how you understand the business to be


Nor do I think, by the way, that there was any sort of price -- connection between pricing and volume. We look at that pretty carefully

nor do i think by the way that there was any sort of price connection between pricing and volume we look at that pretty carefully


which is going to be very important for the society as a whole and our employees. I thank you very much, and we'll now open for Q

which is going to be very important for the society as a whole and our employees i thank you very much and we'll now open for q


It also underscores the very important point that disruption can present a great opportunity when you have attractive rent bases.

it also underscores a very important point that disruption can present a great opportunity when you have attractive rent basis


But in my understanding so far, we have been very conservative regarding any projections in terms of consumption

but in my understanding so far we have been very conservative regarding any projections in terms of consumption of


We've been very focused on planning for this potential outcome and believe our basic nonproprietary product offerings will position us to adapt to the new rule.

we've been very focused on planning for this potential outcome and believe our basic nonproprietary product offerings will position us to adapt to the new rule


We tend not to hire too much in the first half of the year but to do more of the hires in the second half.

we tend not to hire too much in the first half of the year but to do more of the hires in the second half


pursuing solid expense management and making significant progress across a number of strategic initiatives that are enhancing our capabilities and growth potential.


But we prefer not to, because I just don't know the accuracy of it all at this point in time. With respect to Europe,

but we prefer not to because i just don't know the accuracy of it all at this point in time with respect to europe


I think -- I don't think you should say that. Obviously, we want to pay ourselves more over time as they improve their skills and become more productive and multi-scale.

i think -- i don't think you should say that obviously we want to pay our staff more over time as they improve their skills and become more productive and multi-skilled


you have some time to do that. There's nothing that's compelling you that you have to do it, so you can wait for scrap metal to be -- in the markets to be better.

you have some time to do that there's nothing that's compelling you that you have to do so you can wait for scrap metal to be -- the markets to be better


Overall, we feel we made significant progress in fiscal 2016, although we believe there are further opportunities for improvement.

overall we feel we made significant progress in fiscal 2016 although we believe there are further opportunities for improvement


and involve a number of risks and uncertainties and actual results may vary materially from those in the forward-looking statements as a result of various factors,


anticipating lower prices and operated more hand to mouth there is sufficient bean inventory cover by the processors.


we have created what will be the new industry standard when it comes to reliability, energy savings and service capabilities.

we have created what will be the new industry standard when it comes to reliability energy savings and service capabilities


We believe Ballard is the first publicly traded fuel cell company to achieve positive adjusted EBITDA for an entire fiscal year.

we believe ballard is the first publicly traded fuel cell company to achieve positive adjusted ebitda for an entire fiscal year


And our visibility on backlog is typically somewhere between 4 weeks and 3 months, depending on market conditions and the type of work we're selling.

and our visibility on backlog is typically somewhere between 4 weeks and 3 months depending on market conditions and the type of work we're selling


And so we're being somewhat selective, but we wouldn't be surprised over the next few months to pick up an ASC or a small hospital

and so we're being somewhat selective but we wouldn't be surprised over the next few months to pick up an asc or a small hospital


If you have noticed that much of this activity centers around expanding our balance sheet, then you are right because that is exactly what we are doing,

if you have noticed that much of this activity centers around expanding our balance sheet then you are right because that is exactly what we are doing


we will continue to invest, but despite these investments, given our cost focus and the history that you've seen in the last 3 to 4 years,

we will continue to invest but despite these investments given our cost focus and the history that you've seen in the last 3 to 4 years


larger volume of people, okay, we've got to be able to not have to do a custom design for every single application.

larger volume of people okay we've got to be able to not have to do a custom design for every single application


This was primarily due to favorable contract restructuring efforts, lower costs, improved asset performance and higher natural gas prices.

this was primarily due to favorable contract restructuring efforts lower costs improved asset performance and higher natural gas prices


These statements are not guarantees of future performance and are subject to certain risks and uncertainties. Therefore, actual results may differ materially.

these statements are not guarantees of future performance and are subject to certain risks and uncertainties therefore actual results may differ materially


which would be during the first half of our fiscal '21. With regards to revenue, we expect mix to continue shifting towards subscription.

which would be during the first half of our fiscal '21 with regards to revenue we expect mix to continue shifting towards subscription


when you listen to Roger's introduction and you hear all the different indications and the tumors and combinations that we're studying,

when you listen to roger's introduction and you hear all the different indications and the tumors and combinations that we're studying


will have the selling prices pegged to the metal -- changes in the metal prices. And as we look towards the future

that will have the selling prices pegged to the metal -- changes in the metal prices and as we look towards the future


a slowing of growth, but markets are still growing. So as of this point, I don't think we anticipate any significant changes.

a slowing of growth but markets are still growing so as of this point i don't think we anticipate any significant changes


locations, and they clearly understand what it's going to take to turn it around. So we're cautiously optimistic and there to support them and work with them and

locations that they -- and they clearly understand what it's going to take to turn it around so we're cautiously optimistic and there to support them and work with them and


It's those additional challenges of putting it under a pit lid underwater underground and still being able to communicate for a decade

it's those additional challenges of putting it under a pit lid underwater underground and still being able to communicate for a decade


our main goal here is to position us as best as possible to get as many barrels into our pipeline at current


And so most of the investments you see in this business are in and around our platform capability because we feel very good about where we are on the product side.

and so most of the investments you see in this business are in and around our platform capability because we feel very good about where we are on the product side


Additionally, we received customer commitments for extensive pressure pumping refurbishment programs, bringing our committed refurbishments to over 100 pumping units.

additionally we received customer commitments for extensive pressure pumping refurbishment programs bringing our committed refurbishments to over 100 pumping units


Our streak of constant currency revenue growth has been extended to 37 consecutive quarters, reflecting our consistency and resiliency through the cycles.

our streak of constant currency revenue growth has been extended to 37 consecutive quarters reflecting our consistency and resiliency through the cycles


So it will have at least those characteristics, I'm quite confident. And the question beyond that is what I already covered, which is time frame

so it will have at least those characteristics i'm quite confident and the question beyond that is what i already covered which is time frame


So that's the way the number is. We don't like it any more than you do, but I don't think it would make sense to go into any more detail than it is.

so that's the way the number is we don't like it any more than you do but i don't think it would make sense to go any more in detail than it is


I think we will have improvement. I'm not sure exactly how much it will be in place at that point, but there will definitely be an improvement. And I think the state also acknowledged

i think we will have improvement i'm not sure exactly how much of it will be in place at that point but there will definitely be an improvement and i think the state also acknowledged


And that's our job. In the next 6 months through the end of August, our job is to work with Congress and the administration

and that's our job in the next 6 months through the end of august our job is to work with congress and the administration


and we've had a significant uptick in strategic managed account opportunities in illiquid credit across the spectrum of direct lending and structured credit.


maybe what we're seeing is pull-forward. So I was wondering if you could address that? Are there anecdotes or data points out of your California operations that would

maybe what we're seeing is a pull forward so i was wondering if you could address that are there anecdotes or data points out of your california operations that would


pressures, it's an area for us to make sure that the back of the house is our small as efficient as possible that we have

pressures it's an area for us to make sure that the back of the houses are as small as efficient as possible that we have


April and July in terms of the capacity coming online relative to what the demand might look like since it's usually softer for that one big customer?

april and july in terms of the capacity coming online relative to what the demand might look like since it's usually softer for that one big customer


However, in several categories, including instant noodles and tea drinks, we still saw positive results.

however in several categories including instant noodles and tea drinks we still saw positive results


And second of all, could you give us the value or the amount of

and second of all could you give us the value or the amount of


to the long-term care nursing home, and we are currently developing the services

to the long-term care nursing home and we are currently developing the services


we plan to open approximately 30 to 35 more stores this year, including a store in the new One World Trade Center.

we plan to open approximately 30 to 35 more stores this year including a store in the new one world trade center


The significance of these designations is not to be really undermined. It's certainly, as we look to the future, going to be helpful for us,

the significance of these designations is not to be really undermined it's certainly as we look to the future going to be helpful for us


Yes, okay. And then just on the food side, obviously you guys have made some significant capital investments in the conventional assets over the last few years.

yes okay and then just on the food side obviously you guys have made some significant capital investments in the conventional assets over the last few years


that our combined offer here of having the digital entrance to a care but also having

that our combined offer here of having the digital entrance to care but also having


We have some information about that as we've been drilling down in the fourth quarter and billing our internal forecasts for the fourth quarter. And then there are some small accounts that we appear to have lost

we have some information about that as we've been drilling down in the fourth quarter and building our internal forecast for the fourth quarter and then there are some small accounts that we appear to have lost


Adding more color to China and Japan, we had multiple system placements in these countries with traction in both industrial as well as medical institutions.

adding more color to china and japan we had multiple system placements in these countries with traction in both industrial as well as medical institutions


point to a popular desire for a renationalization of policymaking, pressing for a reversal or at least a lull in the march of globalization.

point to a popular desire for renationalization of policymaking pressing for a reversal or at least a lull in the march of globalization


We feel strongly that our fundamental business models continues to strengthen and is functioning well despite our EBITDA not reflecting positive results.

we feel strongly that our fundamental business model continues to strengthen and is functioning well despite our ebitda not reflecting positive results


Looking forward into 2019, we continue to expect cost saves from Charter to be fully realized in the second quarter after the conversion of the core systems.

looking forward into 2019 we continue to expect cost saves from charter to be fully realized in the second quarter after the conversion of the core systems


with volume increasing 19% compared to the third quarter of 2017, building on the positive trends we experienced during the first half of the year.

with volume increasing 19% compared to the third quarter of 2017 building on the positive trends we experienced during the first half of the year


as well as provide and optimize the commercial infrastructure to manage their revenue regardless of payment model or care setting.


We also earned design-wins in a number of shared connected bike models in China.

we also earned design wins in a number of shared connected bike models in china


So we have, rather than 16 months ago when we had all of our eggs in the Tawke basket, we now have a much more diverse source of cash flow. And

so we have rather than 16 months ago where we had all of our eggs in the tortoise basket we now have a much more diverse source of cash flow


Once adoption reaches an even higher threshold, they deploy a compute node into the country to specifically serve the local market.

once adoption reaches an even higher threshold they deploy a compute node into the country to specifically serve the local market


Turning to Slide 13. This illustrates the significantly improved results we are now seeing from our Architectural business.

turning to slide 13 this illustrates the significantly improved results we are now seeing from our architectural business


First, after more than 2 years of scaling the business lower and cutting costs, we have been able to focus on growing the company again.

first after more than 2 years of scaling the business lower and cutting costs we have been able to focus on growing the company again


We continue to make progress towards closing this merger, which we expect to be completed late in the first quarter or early in the second quarter.

we continue to make progress towards closing this merger which we expect to be completed late in the first quarter or early in the second quarter


the yield on new production any different than the yield on the portfolio at this point? Or is there still sort of a bit of a drip there?

the yield on new production any different than the yield on the portfolio at this point or is there still sort of a bit of a drip there


Our revised guidance range assumes more normalized investment returns in all segments and life mortality to be in line with actuarial models.

our revised guidance range assumes more normalized investment returns in all segments and life mortality to be in line with actuarial models


They have come up with a whole bunch of recommendations, which are ready to be implemented. And one of the recommendations was that a price cap was not a good idea.

they've come up with a whole bunch of recommendations which are ready to be implemented and one of the recommendations was that a price cap was not a good idea


And we're off to a good start to the second half of the year across both divisions and are comfortable with market expectations for the full year financial performance.

and we're off to a good start to the second half of the year across both divisions and are comfortable with market expectations for the full year financial performance


I think we've outlined before that we got very clear priorities for the use of our cash. And these do remain unchanged. First off, we invest in our people, our products,

i think we've outlined before that we've got very clear priorities for the use of our cash and these do remain unchanged first off we invest in our people our products


some markets are highly seasonal, reflecting budget cycles or vacation patterns, and sales into some markets are constrained by government regulations.

some markets are highly seasonal reflecting budget cycles or vacation patterns and sales into some markets are constrained by government regulations


they may be at a different level of the funnel, maybe higher in the funnel. But as we've seen in Kenosha and in Roanoke and in Fayetteville,

they may be at a different level of the funnel maybe higher in the funnel but as we've seen in kenosha and in rolenoke and in fayetteville


Although we are able to find a way to keep most of our drilling rigs moving, as you mentioned, we were certainly not so fortunate with our completion activity.

although we are able to find a way to keep most of our drilling rigs moving as you mentioned we were certainly not so fortunate with our completion activity


and the projections moving forward, I think we'll just have a little blip that we're dealing with there, but we see the businesses there also picking up again.

and the projections moving forward i think we'll just have a little blip that we're dealing with there but we see the businesses there also picking up again


In most of our key markets, the picture is relatively positive, with strong employment, consumer spending and consumer sentiment data.

in most of our key markets the picture is relatively positive with strong employment consumer spending and consumer sentiment data


So I think this whole move of convergence is really putting us in Europe, and I could talk also of what's happening in Belgium

so i think this whole move of convergence is really putting us in europe and i could talk also of what's happening in belgium


we have to be focused on recurring revenue, not non-recurring revenue. It means we have to be focused on

we have to be focused on recurring revenue not nonrecurring revenue it means we have to be focused on


is modernizing the entire approach to content. So most content today is still sold the way music used to be sold,

is modernizing the entire approach to content so most content today is still sold the way music used to be sold


from both an inpatient perspective as well as an outpatient perspective since we believe that there may be an underappreciated awareness


This situation has slowed the pace of our discussions for the lease agreement for our Diamondback facility, but the state's need for capacity continues

this situation has slowed the pace of our discussions for the lease agreement for our diamondback facility but the state's need for capacity continues


The bureau continues to project a need for additional bed capacity for the private sector and is progressing through the process as part of the CAR XIX procurement.

the bureau continues to project a need for additional bed capacity from the private sector and is progressing through the process as part of the car-19 procurement


Continuing with ICE. The agency issued a request for information for either new or existing detention capacity of up to 3,000 beds

continuing with ice the agency issued a request for information for either new or existing detention capacity of up to 3 000 beds


not only by demonstrating resilience and stability in a challenging market but also by being well positioned to thrive in the eventual recovery.


Today's conference is being recorded. At this time, I'd like to turn the conference over to Brian Ritchie of LifeSci Advisors. Please go ahead.

today's conference is being recorded at this time i'd like to turn the conference over to brian ritchie of lifesci advisors please go ahead


There is a program that we have in place that entitles some of our suppliers

there is a program that we have in place that entitles some of our suppliers


Our Industrial business was down sequentially, in line with normal seasonality and with continued strength in factory automation products.

our industrial business was down sequentially in line with normal seasonality and with continued strength in factory automation products


And I'm thinking that by 2017, that will be cleared up and they will be trying to compete with their competitors

and i'm thinking that by 2017 that will be cleared up and they will be trying to compete with their competitors


and that was the reason I knew about this conference call. He was -- one of them was unavailable to

and that was the reason i knew about this conference call he was -- one of them was unavailable to


in this very important field and to continue to impress both our customers and our shareholders.


This included a comprehensive global process that considered numerous highly talented internal and external candidates.

this included a comprehensive global process that considered numerous highly talented internal and external candidates


may change over time, and we undertake no obligation to inform you if they do. Results that we report today should not be considered as an indication of future performance.

may change over time and we undertake no obligation to inform you if they do results that we report today should not be considered as an indication of future performance


So that's the essence of what we've been able to transform that business. And that's what you're going to see more of moving forward.

so that's the essence of what we've been able to transform that business and that's what you're going to see more of moving forward


So you should think of it now that we have a little bit more discipline in this business in terms of value pricing instead of competitive pricing

so you should think of it now is that we have a little bit more discipline in this business in terms of value pricing instead of competitive pricing


As far as the other governance positions are concerned, that's also part of our conversation with thyssenkrupp. And at an appropriate time, that will be announced.

as far as the other governance positions are concerned that's also part of our conversation with tissot group and at an appropriate time that will be announced


has lead customer having demonstrated excellent pixel performance on prototypes and as well excellent product yield.


We remain confident we are well positioned to make the necessary adjustments in our business to address changes in pork capacity.

we remain confident we are well positioned to make the necessary adjustments in our business to address changes in port capacity


in a modest cash outflow. This is one of the benefits of a great strong organic growth as it begins to become a bit of a pressure to your cash flow.

and a modest cash outflow this is one of the benefits of great strong organic growth as it begins to become a bit of a pressure to your cash flow


Tony mentioned on the last earnings call that we successfully launched a business division focused on serving the needs of small to medium-sized businesses.

tony mentioned on the last earnings call that we successfully launched a business division focused on serving the needs of small to medium-sized businesses


with no product defects in the gas business, which is a great accomplishment for the team. Shows they're focused on executing for customers, while simultaneously delivering

with no product defects in the gas business which is a great accomplishment for the team shows they're focused on executing for customers while simultaneously delivering


grew within the existing premises and there's no space left. We don't have enough space to handle the

grew within the existing premises and there's no space left we don't have enough space to handle the


we -- it's loose enough, and there's enough credit availability that we can hit our numbers. But I would say it's pretty consistent with where it's been over the last year.

it's loose enough and there's enough credit availability that we can hit our numbers but i would say it's pretty consistent with where it's been over the last year


And so we had a little bit of a sort of change in focus there, getting back into the dealerships and sort of reaffirming our relationships

and so we had a little bit of a sort of change in focus there getting back into the dealerships and sort of reaffirming our relationships


Again, with our focus on credit quality and watching the portfolio, we might expect that to continue in the future. But again, another good spot in terms of what we're trying to do.

again with our focus on credit quality and watching the portfolio we might expect that to continue in the future but again another good spot in terms of what we're trying to do


We will continue to pursue organic growth as well as growth through strategic complementary acquisitions to enhance our product platform.

we will continue to pursue organic growth as well as growth through strategic complementary acquisitions to enhance our product platform


is it economically feasible even to have a private securitization market. And that would take work from a number of parties, not just ourselves.

is it economically feasible even to have a private securitization market and that will take work from a number of parties not just ourselves


And there's a robust pipeline of exciting innovation launches planned in the second half, which you will hear about in the coming months.

and there's a robust pipeline of exciting innovation launches planned in the second half which you will hear about in the coming months


While we had a positive comp, it is important to note that our product mix was substantially different than it was in Q3 of last year.

while we had a positive comp it is important to note that our product mix was substantially different than it was in q3 of last year


that continues to be a part of the productivity story in PSM, when we can add a new asset and close a facility, get rid of overhead.

that continues to be a part of the productivity story in psm when we can add a new asset and close a facility get rid of overhead


which we successfully implemented during 2016. We are closely monitoring the regulatory environment as our government transitions to new leadership

which we successfully implemented during 2016 we are closely monitoring the regulatory environment as our government transitions to new leadership


No. I think you look at it kind of as what I would call somewhat normal quarterly movements. If you look at the margin, I think the margin on the cloud services probably

no i think you look at it kind of as what i would call somewhat normal quarterly movements if you look at the margin i think the margin on the cloud services probably


We need to position ourselves in such a way that we can compete in a stronger manner.

we need to position ourselves in such a way that we can compete in a stronger manner


as you get into the second and third year of the downturn, in terms of sellers' price expectations

as you get into the second and third year of a downturn in terms of sellers' price expectations


building inventories for a potential launch for the TNBC. There are certainly parties we are talking to that are capable

building inventories for a potential launch for the tmvc there are certainly parties we are talking to that are capable


and so 130 is a very attractive one that many of our investigators are very anxious for us to expand beyond colorectal cancer.


But when we looked at the residential jumbo mortgage market, we didn't see an opportunity there, as banks were still active and too competitive in that market.

but when we looked at the residential jumbo mortgage market we didn't see an opportunity there as banks were still active and too competitive in that market


a homogeneous group with predictable degree of sleepiness in the absence of treatment? And then the second one was just the

a homogeneous group with a predictable degree of sleepiness in the absence of treatment and then the second one was just the


Let me move on to margins, so from funding to margins. We have been able to maintain the net interest margin over 20% for the quarter

let me move on to margins so from funding to margins we have been able to maintain the net interest margin over 20% for the quarter


and manufacturing some of the most advanced products available in the market, from technology for particle accelerators to airbag jackets for motorcycle drivers.

and manufacturing some of the most advanced products available in the market from technology for particle accelerators to airbag jackets for motorcycle drivers


All right. Ladies and gentlemen, thank you for participating in today's conference. This does conclude the program and you may all disconnect. Everyone, have a great day.

all right ladies and gentlemen thank you for participating in today's conference this does conclude the program and you may all disconnect everyone have a great day


We ended the second quarter with 55 global sales team members compared with 41 at the end of the second quarter of last year.

we ended the second quarter with 55 global sales team members compared with 41 at the end of the second quarter last year


we are sitting ourselves up in that area and will see some activities. And then we have the health

we are setting ourselves up in that area and we'll see some activities and then we have the health


with new capabilities, a clear strategic plan and specific actions to ensure sustainable long-term growth.

with new capabilities a clear strategic plan and specific actions to ensure sustainable long-term growth


Dave recently assumed responsibility for our Away From Home business, along with maintaining his previous role leading our International businesses.

dave recently assumed responsibility for our away from home business along with maintaining his previous role leading our international businesses


Before we comment on the quarterly results, I'd like to take a moment to briefly review the subject of my retirement that was announced a couple of weeks ago.

before we comment on the quarterly results i'd like to take a moment to briefly review the subject of my retirement that was announced a couple of weeks ago


Please refer to the complete discussion of risks in our most recent reports filed with the SEC and in the cautionary note in today's press release.

please refer to the complete discussion of risks in our most recent reports filed with the sec and in the cautionary note in today's press release


that oversupply needs to get used up and it will get used up as LED lighting penetration continues to grow.

that oversupply needs to get used up and it will get used up as led lighting penetration continues to grow


phasing our way into the offtake commitments and the infrastructure commitments that we need to make and the time it takes to build those


The relationships are being built and we've had very constructive discussions with all those parties and are being welcomed with open arms on the slope.

the relationships are being built and we've had very constructive discussions with all those parties and have been welcomed with open arms on the slope


consumer Internet is quite good at delivering user experience. And I think enterprise is behind on delivering comparable user experience.

consumer internet is quite good at delivering user experience and i think enterprise is behind on delivering comparable user experience


what you're hearing from them in terms of their plans around public cloud adoption and sort of where they see ServiceNow fitting into that? And then, I've got one follow-up for Mike.

what you're hearing from them in terms of their plans around public cloud adoption and sort of where they see servicenow fitting into that and then i've got one follow-up for mike


And there is a question about how much capacity will be added in the future for the economic reasons that you referenced.

and there is a question about how much capacity will be added in the future for the economic reasons that you referenced


Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the company's actual results in future periods to differ materially

such forward-looking statements involve known and unknown risks uncertainties and other factors that may cause the company's actual results in future periods to differ materially


And then lastly, the focus on continuing -- continuous improvement and efficiency through best practice is something that we focus on every day

and then lastly the focus on continuing -- continuous improvement and efficiency through best practices it's something that we focus on every day


we haven't made a decision to not re-lease the aircraft, but we don't have enough data points or confidence for this aircraft type to make that determination.

we haven't made a decision to not release the aircraft but we don't have enough data points or confidence with this aircraft type to make that determination


Given the sale activity and acquisition activity, it's very hard to kind of keep track of that over the course of the year. I was wondering if you might just be able to say -- I think you mentioned 4 aircraft

given the sale activity and acquisition activity it's very hard to kind of keep track of that over the course of the year i was wondering if you might just be able to say -- i think you mentioned 4 aircraft


regarding our acquisition, disposition and investment plans, and our expectations regarding our future financial position and result of operations.

regarding our acquisition disposition and investment plans and our expectations regarding our future financial position and results of operations


As we look out over the balance of 2019, we expect continued contribution from the international oilfield sector for both technology and base ceramic products.

as we look out over the balance of 2019 we expect continued contribution from the international oilfield sector for both technology and base ceramic products


Through the digitalization of public media, both platforms move more and more on the same data and technology spec.

through the digitization of public media both platforms move more and more on the same data and technology stack


to create an integrated one firm perspective on how we deliver services to both our high net worth audience as well as institutions.


This has allowed us to rapidly expand the penetration of our big data and risk management services.

this has allowed us to rapidly expand the penetration of our big data and risk management services


at this point from a schedule perspective, I'm not going to change anything that I spoke about last quarter on Cameron. And I think you heard Sempra speak

at this point from a schedule perspective i'm not going to change anything that i spoke about last quarter on cameron and i think you heard stempros speak


Towards the end of 2018, we saw a high degree of oil price instability causing some of the larger programs to pause for what we believe is a short term.

towards the end of 2018 we saw a high degree of oil price instability causing some of the larger programs to pause for what we believe is a short term


Many of you may recall in our customer survey work done in the first half of 2018, the issue of quote turnaround times rose to the top in the list of concerns

many of you may recall in our customer survey work done in the first half of 2018 the issue of quote turnaround times rose to the top in a list of concerns


We are blown away by the ingenuity of our community, and we can't wait to see what they create next. We'll be working hard to expand Lens Studio for years to come.

we are blown away by the ingenuity of our community and we can't wait to see what they create next we'll be working hard to expand lenn's studio for years to come


So I look forward to meeting you all in Boston and New York over the coming weeks. And I thank you very much for your attention. Take care.

so i look forward to meeting you all in boston and new york over the coming weeks and i thank you very much for your attention take care


and now being obligated to pay a commissioned salesperson minimum wage and overtime caused us to make some strategic changes.

and now being obligated to pay a commission salesperson minimum wage and overtime caused us to make some strategic changes


I don't think you should consider that all the revenue top line will start to drop down in that case because of the foreign currency translation.

i don't think you should consider that all the revenue top line will start to drop down in that case because of the foreign currency translation


recent ban on used plastics, the ban on imports and its impact. And your question was on the impact that it has on the olefin downstream.

recent ban on used plastics the ban on imports and its impact -- and your question was on the impact that it has on the olifant downstream


I think investors we speak with would appreciate more visibility on how you're prioritizing what you're doing particularly as you think about the portfolio going forward

i think investors we speak with would appreciate more visibility on how you're prioritizing what you're doing particularly as you think about the portfolio going forward


We have resolved the burning questions around the structure of our South African asset base, monetizing some assets and putting other unprofitable ones into orderly closure.

we have resolved the burning questions around the structure of our south african asset base monetizing some assets and putting other unprofitable ones into orderly closure


We are now engaged in these discussions, which, if successful, we anticipate will reduce interest expense and create additional financial flexibility.

we are now engaged in these discussions which if successful we anticipate will reduce interest expense and create additional financial flexibility


As expected, we had a seasonal outflow of cash for working capital in the quarter in advance of our seasonally strong second and third quarters.

as expected we had a seasonal outflow of cash for working capital in the quarter in advance of our seasonally strong second and third quarters


Some of these risks and uncertainties can be found in the company's filings with the Securities and Exchange Commission as well as in today's press release.

some of these risks and uncertainties can be found in the company's filings with the securities and exchange commission as well as in today's press release


The states currently scheduled to release TPL contracts this year accounted for less than 12% of our prior-year state revenue.

the states currently scheduled to release tpl contracts this year accounted for less than 12% of our prior year state revenue


part of that initiative is trying to leverage third party professional service organizations to deliver again some of our projects,

part of that initiative is trying to leverage third-party professional service organizations to deliver against some of our projects


of our total sales dollars, it represents a larger percentage of our profitability. That's why we're so excited about this growth.

of our total sales dollars it represents a larger percentage of our profitability that's why we are so excited about this growth


individuals are hard to find. We've been able to attract talent and train talent as graders for both coins and cards.

individuals are hard to find we've been able to attract talent and train talent as graders for both coins and cards


But strategically now, as we're now segmenting our markets, understanding how we're deploying that capacity to be able to go after where growth is occurring

but strategically now as we're now segmenting our markets understanding how we're deploying that capacity to be able to go after where growth is occurring


So by the end of this year, we have a much more clear picture about the future plan. Our plan is to continue to expand

so by the end of this year we have a much more clear picture about the future plan our plan is to continue to expand


Since safe school initiatives and the need for school security upgrade is evident when you review state legislative priorities.


Today, we will review our financial and operational results and provide commentary on our performance in the context of our 4-point growth strategy.

today we will review our financial and operational results and provide commentary on our performance in the context of our 4-point growth strategy


now it's all upside. I'm expecting a couple of quarters of relatively flatness or maybe moderate growth, but this isn't off to the

now it's all upside i'm expecting a couple of quarters of relatively flatness or maybe moderate growth but this isn't off to the


If I understand you correctly, so if there are more investments outside of China?

if i understand you correctly so if there are more investments outside of china


Are these questions, things that would need to be addressed for your eventual full filing? Or are they specific to the conditional application just based on

are these questions things that would need to be addressed for your eventual full filing or are they specific to the conditional application just based on


That said, the integration of JLT will likely involve more adjustments to our numbers over the next 2 or 3 years than we have seen historically.

that said the integration of jlt will likely involve more adjustments to our numbers over the next 2 or 3 years than we have seen historically


it's only one case. We do not need to be there. So it's not the complexity of the procedure. They already are performing

it's only one case we do not need to be there so it's not the complexity of the procedure they already are performing


in product performance, product road map, service and support while also tying for the top spot in deployment experience.

in product performance product road map service and support while also tying for the top spot in deployment experience


So the same customers, if they want to store their documents for a long period of time, they can use the same platform. Or if they want to use

so the same customers if they want to store their documents for a long period of time they can use the same platform or if they want to use


but it's also the region -- it's a destination of real investment opportunities for us. And we do see real opportunity

but it's also the region is a destination of real investment opportunities for us and we do see real opportunity


performance across our funds remain strong. We're attracting a significant amount of new capital and are making great progress towards our fundraising goals,

performance across our funds remains strong we are attracting a significant amount of new capital and are making great progress towards our fundraising goals


and if it is, what's going on? Why are the enterprise customers not as excited about this product as you and I are?

and if it is what's going on why are the enterprise customers not as excited about this product as you and i are


And we really have not gotten NRDL approval for JANUVIA in China yet. So once that's achieved, I think that, that represents another opportunity for us

and we really have not gotten nrdl approval for genovia in china yet so once that's achieved i think that that represents another opportunity for us


I would now like to introduce your host for today's conference call, Mr. Steve Robb, Chief Financial Officer for The Clorox Company. Mr. Robb, you may begin your conference.

i would now like to introduce your host for today's conference call mr steve rob chief financial officer for the clorox company mr rob you may begin your conference


And I think, you'll see as we learn, we adapt over the rest of the year that, that is a major focus for us and we've made the first of a number of hires

and i think you'll see as we learn we adapt over the rest of the year that that is a major focus for us and we've made the first of a number of hires


I'm extremely proud of our asset management, led by Jeremy Welter, and our property managers for their resilience and perseverance during and after these storms.

i'm extremely proud of our asset management team led by jeremy walter and our property managers for their resilience and perseverance during and after these storms


The new and higher-yielding securities have already stabilized investment yields in the quarter and positively contributed to our running book yield.

the new and high-yielding securities have already stabilized investment yields in the quarter and positively contributed to our running book yield


We have a lot of learnings on a lot of different experiments that have been done over the past 3 or 4 months on the best way to generate trial repeat purchase

we have a lot of learnings on a lot of different experiments that have been done over the past 3 or 4 months on the best way to generate trial repeat purchase


Now over the last several years, what we've seen them doing is taking them off and rebuilding them and putting them back on. So that has impacted the business.

now over the last several years what we've seen them doing is taking them off and rebuilding them and putting them back on so that has impacted the business


Can you again talk about here what you're seeing? What are the growth prospects, to get a better understanding how these things

can you again talk about here what you're seeing what are the growth prospects to get a better understanding how these things


Makes us feel very secure about the margin and the profit as well as using the products and the platforms to drive the revenue.

makes us feel very secure about the margin and the profit as well as using the products and the platforms to drive the revenue


perhaps an attainable target anymore. Is that fair? Or are there some factors in '18 that can still get you to the 100 basis points?

perhaps an attainable target anymore is that fair or are there some factors in '18 that can still get you to the 100 basis points


related to accelerated amortization of the deferred financing costs associated with the STORE Master Funding bonds we prepaid in August.

related to accelerated amortization of the deferred financing costs associated with the storemaster funding bonds we prepaid in august


Also of note, for the first time in quite a while, we reported no one-off other items as restructuring initiatives reached at least a temporary pause.

also of note for the first time in quite a while we reported no one-off other items as restructuring initiatives reached at least a temporary pause


There's still a lot of work that has to be done on the referral channel, as we've talked about. And so I think that's a business that we expect, overall, very healthy growth.

there's still a lot of work that has to be done on the referral channel as we've talked about so i think that's a business that we expect overall very healthy growth


So I don't think it's just large projects slowing down with those couple projects, I think it's the health of the rest of the business

so i don't think it's just large projects slowing down with those couple of projects i think it's the health of the rest of the business


And common shareholders will not have tax obligations arising from their investment in Ares shares, other than on the receipt of qualifying dividends.

and common shareholders will not have tax obligations arising from their investment in ares' shares other than on the receipt of qualifying dividends


branches being closed or reconfigured to optimize productivity, migration of transactions to ATMs and digital channels among others.

branches being closed or reconfigured to optimize productivity migration of transactions to atms and digital channels among others


Our portfolio has been designed to line up with major global shifts that are underway that we believe are long term and entirely structural in nature.

our portfolio has been designed to line up with major global shifts that are underway that we believe are long-term and entirely structural in nature


This was because last year, we had a piece of income from disposal of assets. Profit after tax,

this was because last year we had a piece of income from disposal of assets profit after tax


In summary, we are very pleased with our second quarter performance. We will continue to be focused on driving solid revenue growth,

in summary we are very pleased with our second quarter performance we will continue to be focused on driving solid revenue growth


in 2020. And at the same time then, as you gradually move the volumes from one network to the other, you will also

in 2020 and at the same time then as you gradually move the volumes from one net to the other you will also


We think it helps the hub to do that to get adoption in its supply chain. However, having said that,

we think it helps the hub to do that to get adoption in its supply chain however having said that


that our supply chain and pricing initiatives are firmly ingrained in our corporate culture, we will not be providing incremental status updates on these initiatives.

and that our supply chain and pricing initiatives are firmly ingrained in our corporate culture we will not be providing incremental status updates on these initiatives


we've maintained our focus on executing other growth opportunities as well including those that leverage our expertise and property size advantages.


would remain consistent with prior years even with this change that leads to higher commission rates for the recurring portion.


Research recently conducted by Greenwich Associates further validates the strength and effectiveness of our bankers.

research recently conducted by greenwich associates further validates the strength and effectiveness of our bankers


And if we invest in incremental capacity, it's going to be where we know we've got strong contract to support to -- support that investment and generate a strong return.

and if we invest in incremental capacity it's going to be where we know we've got strong contract to support to support that investment and generate a strong return


it helped us enormously in the PH Exceed program that we had the single dose study

it helped us enormously in the phxc program that we had the single-dose study


And we also actively get involved in the digital platform. In fact, we will slowly get into

and we also actively get involved in the digital platform in fact we will slowly get into


sort of macro drivers to determine specifically who's going to be most competitive at that time because it really gets back to the financing needs of the acquirer of the asset.


a new determination to deliver cost and production efficiencies and the continued efforts of the Vanguard employees will be the catalysts for delivering successes

a new determination to deliver cost and production efficiencies and the continued efforts of the vanguard employees will be the catalyst for delivering successes


Finally, we have brought on a consulting group in order to support the organization as it endeavors to improve processes and organizational alignment,

finally we have brought on a consulting group in order to support the organization as it endeavors to improve processes and organizational alignment


A lot of the traffic that we took on during the second quarter, not only was some of that long-distance, which definitely is very low margin,

a lot of the traffic that we took on during the second quarter not only with some of that long distance which definitely is very low margin


which give customers ability to read newspapers, so in the mobile, and also the mobimoney. So now we can say that we have a complete portfolio

which give customers ability to read newspapers over the mobile and also the mobi money so now we can say that we have a complete portfolio


and that we will have some operating synergies. So if you throw those things and -- as an impact of the transaction in terms of

and that we'll have some operating synergies so if you throw those things in as an impact of the transaction in terms of


In Management Services, we delivered strong results, led by our leading capabilities in the markets with high barriers to entry and our diverse portfolio of projects.

in management services we delivered strong results led by our leading capabilities in the markets with high barriers to entry and our diverse portfolio of projects


which was partially offset by an increase in the decoupling mechanism and the August 1 price increase for placing Carty into service.

which was partially offset by an increase in the decoupling mechanism and the august 1 price increase replacing cardi into service


Our wealth management business also performed well and also benefited from the strong markets and investments we made to grow our client-facing teams.

our wealth management business also performed well and also benefited from the strong markets and investments we made to grow our client-facing teams


Today, our Recovery Audit business is performing very well, and we are continuing to see meaningful organic growth in this segment.

today our recovery audit business is performing very well and we are continuing to see meaningful organic growth in this segment


Good afternoon, and thank you for joining us on the call today. As you know, Intuitive is dedicated to the mission of expanding the availability of minimally invasive surgery,

good afternoon and thank you for joining us on the call today as you know intuitive is dedicated to the mission of expanding the availability of minimally invasive surgery


I think that, ultimately, what we want to do for the balance of this year, and I want to keep in mind that any money invested in inventory is fungible.

i think that ultimately what we want to do for the balance of this year and i want to keep in mind that any money invested in inventory is fungible


The actions we are taking in these areas will not only help us weather the tempestuous environment facing the industry but also leave us well placed

the actions we are taking in these areas will not only help us whether the tempestuous environment facing the industry but also leave us well placed


as we build on ITG's proud 3-decade legacy to continue to ramp up client momentum and deliver sustainable margin improvement.

as we build on itg's proud 3-decade legacy to continue to ramp up client momentum and deliver sustainable margin improvement


and that gives us a faster and more cost-efficient solution to the customers. And that's exactly what we're hearing in conversations with them, that they want at the moment.

and that gives us a faster and more cost-efficient solution to the customers and that's exactly what we're hearing in conversations with them that they want at the moment


plant capacity may not be the real capacity, while the real capacity may not be the strategical capacity either.

plant capacity may not be the real capacity while the real capacity may not be the strategical capacity either


I had a crystal ball so I could predict with certainty when certain technologies would be adopted, I'd probably be doing something else for a living, John.

if i had a crystal ball so i could predict with certainty when certain technologies would be adopted i'd probably be doing something else for a living dad


can you give us a little bit more color as to what exactly is causing that? And then second, could I just get the number for stock-based comp in the quarter?

can you give us a little bit more color as to what exactly is causing that and then second could i just get the number for stock-based comp in the quarter


service providers that are going to be interested in changing the way they go about building their networks. They're just going to be looking for another vendor. That's distinctly not our play.

service providers that are going to be interested in changing the way they go about building their networks they're just going to be looking for another vendor that's distinctly not our play


Those are -- I don't need to say anything else about what's happening in the business as we shift to our platform company.

those are -- i don't need to say anything else about what's happening in the business as we shift to our platform company


So in terms of any angst or risk that you build into the model, there should be none of that as it relates to Kaiser.

so in terms of any angst or risk that you build into the model there should be none of that as it relates to kaiser


The effect of these 2 transactions is now included in our updated interest expense guidance.

the effect of these 2 transactions is now included in our updated interest expense guidance


the rest of the presentation at this point, which is what happened to us last week and how can we convince you that we're fully out

the rest of the presentation at this point which is what happened to us last week and how can we convince you that we're fully out of


Okay. So you're still -- with some of your newer customer you're still in a phase of kind of ramping up with them, so you could see some natural share gains just from them?

okay so you're still -- with some of your newer customers you're still in a phase of kind of ramping up with them so you could see some natural share gains just from that


And then there is a productivity gain on the back end where we can deploy more systems with fewer people.

and then there is a productivity gain on the back end where we can deploy more systems with fewer people


To be clear, we are not seeing anything indicating this in our portfolio today. We just know from experience to be mindful of the scenario.

to be clear we are not seeing anything indicating this in our portfolio today we just know from experience to be mindful of the scenario


Where was this business at its peak and where are we right now in the cycle relative to the peak that this business has seen in the past?

where was this business at its peak and where are we right now in the cycle relative to the peak that this business has seen in the past